Alternative asset manager Apollo is set to roll out three new evergreen semi-liquid European Long-Term Investment Funds (ELTIFs).
The funds are expected to be launched under the ELTIF 2.0 fund regime in the coming months, and are designed to provide investors in Europe, Asia and Latin America with greater access to private markets strategies.
The announcement comes after Apollo received regulatory approval from Luxembourg’s Commission de Surveillance du Secteur Financier.
Read more: Apollo lists evergreen private markets solutions on iCapital marketplace
The funds are labelled Apollo European Private Credit ELTIF (AEPC ELTIF), Apollo Global Diversified Credit ELTIF (AGDC ELTIF), and Apollo Global Private Markets ELTIF (AGPM ELTIF).
AEPC ELTIF will expose investors to newly originated, primarily first-lien, senior secured direct lending to large-cap and upper middle-market European companies.
AGDC ELTIF will have a global, multi-asset credit strategy and invest across private credit sectors, including direct lending and asset-backed finance.
AGPM ELTIF will invest in private companies globally via secondaries and co-investments sourced across the Apollo platform.
Read more: Private credit ELTIF launches outpace private equity
“With these three new ELTIFs, we continue to bring the best of Apollo’s investing expertise to wealth investors in Europe and around the world, in product formats tailored to their needs,” says Veronique Fournier, head of Apollo’s EMEA global wealth.
Once the new ELTIFs are launched, Apollo’s global wealth business will have eight evergreen Luxembourg products in total.
Read more: Apollo reports record fee-related earnings boosted by lending
ELTIFs are a vehicle designed to encourage individuals to invest in long-term, illiquid assets. ELTIF 2.0 was launched on 10 January 2024, and contained regulatory updates designed to enhance liquidity, broaden investment opportunities and simplify marketing, compared to the original ELTIF.
